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Features and Benefits

The Wise Choice for Educators Plan allows a school district to outsource their plan sponsor responsibilities, including fund manager selection and oversight and holds the school district harmless for these responsibilities.

In addition, The Wise Choice for Educators Plan provides a comprehensive participant education program, full-fee transparency and a strong asset allocation platform.

The Wise Choice plan was built by public employees for public employees. As a not-for-profit association, the Illinois Public Pension Fund Association, whose board is made up of public sector employees, has directed that The Wise Choice for Educators 403(b)/457(b) plan act only in the best interest of plan participants – not insurance companies, brokers or sales people.

The Wise Choice for Educators 403(b) Plan makes available a program that has no wrap fees and, provides access to an investment option with nearly 5,000 mutual funds while still maintaining the personal, individual service employees require.

The bottom line: why your district should consider joining IPPFA’s Wise Choice for Educators 403(b)/457(b) Plan

In summary, plan benefits include:

  • Creates a “win-win” situation: the school business official gets an easy-to-implement program which lets them outsource their plan sponsor responsibilities, while putting employees’ interests first.
  • No wrap fees
  • No annuity charges of any type
  • No Contingent Deferred Sales Charges
  • Internet access to participant education materials and accounts
  • Acceptance of all fiduciary responsibility for all delegated responsibilities including fund manager selection
  • Competitive costs that can allow educators to keep more of their money, instead of paying it out to insurance companies, sales people or brokers
  • Up-to-date plan documents (IPPFA attorneys are monitoring new regulations and when appropriate update the plan documents to keep the plan compliant)
  • Quarterly review to help ensure The Wise Choice for Educators Plan is meeting the goals and objectives established by the IPPFA
  • Complete access to the broad mutual fund market for the sophisticated participant
  • Full fee disclosure. The fees are fully expressed in the investment ratio of each fund. Participants do not have to search in multiple locations for all of the fees they pay
  • A “Hold Harmless” to the plan sponsor for all delegated fiduciary responsibilities including investment manager selection
  • Streamlines the administrative process and decreases staff time spent on supplemental savings plans
  • Provides full compliance and remitting, eliminating the need to hire an outside TPA
  • The IPPFA provides full TPA services at no additional cost
  • Participant can still work with their representative.

Questions? Call 866-994-6312 or visit